Sep. 16--The global economy is still in the dumper, unemployment is high and consumer confidence is weak.

But despite the gloom, 16 Ohio-based companies offered investors some news that might have surprised them: The companies are healthy, profitable and ready to forge ahead.

The companies participated yesterday in the inaugural INVESTOhio Equity Conference at the Hyatt Regency Columbus, which brought together representatives of publicly traded Ohio companies and fund managers, analysts and investment professionals.

"It's a good forum," said Eric Ingerman of institutional brokerage Cleveland Research, which covers about 150 companies. "It's helping us become familiar with companies that perhaps we haven't had a chance to look at before."

A look at the insights shared by the central Ohio companies that participated:

American Electric Power

AEP has been hurt by the downturn, but "the actual hit to revenues was not as great as might be expected," said Chuck Zebula, treasurer and senior vice president of investor relations. The company has a stable financial position and a "great diversity of earnings."

The company, which generates 66 percent of its power by burning coal, is watching cap-and-trade carbon proposals in Washington while working on carbon capture and storage technology.

AEP is also working hard on expanding and upgrading the national power grid, Zebula said, as well as buying gas-burning power plants and adding wind- and solar-power capacity.

"One of the things we're most proud of ... is we're approaching 100 years of paying quarterly dividends to shareholders," he said.

Big Lots

The Columbus company emphasized to investors that "we are a unique business," said Joe R. Cooper, senior vice president and chief financial officer. "We are absolutely not a dollar store."

The closeout retailer views 2009 as "the year of the store," he said, with a focus on cleaning up old locations, closing a few, instituting new layouts and signage in all, and opening more stores than in the past three years combined.

Earnings per share in the second quarter of 2009 were up for the 11th consecutive quarter, he said, as the company tapped into consumers' desire for value.

Cooper said he expects the appeal of the new and newly refurbished stores to "high-value customers" will continue as the economy improves.

Cardinal Health

The company is renewing its focus on its core business and looking to shed parts that don't fit, said Sally Curley, senior vice president of investor relations.